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CNN
Dec 30, 2012 5:00am PST
's "meet the press." mr. obama is expected to call for an immediate vote by congress on a scaled-back plan that would only extend middle class tax breaks and unemployment benefits if the congressional negotiations fail. >>> fears over the fiscal cliff are weighing heavily on u.s. stocks, which posted five straight days of losses. the dow had a triple-digit loss on friday. the nasdaq and s&p 500 entered the day and week in the red. i spoke with one wall street trader about mow a deal could help the markets get back in the green. >> listen, if we get a deal and we get a deal that's substantive and realistic and that the market believes, i think the market will rally back and certainly rally back to the 1425, 1440 level. they won't go back it to 1475 unless they pull the complete rabbit out of the hat. i don't think that will happen. the market will certainly rally. you can feel it. every time one comes out and is optimistic, you see the market try to take back some of the losses because it wants a settlement and a resolution. the fact is it's not getting it. the market will vote with its fee
CNN
Dec 29, 2012 7:00am PST
many people speaking. again, we heard from president obama this morning talking about how important it is to try and get a deal done this week. >> you meet your deadlines, your responsibilities every single day. the folks you sent here to serve should do the same. we cannot let washington politics get in the way of america's progress. we've got to do what it takes to protect the middle class, grow this economy, and move our country forward. >> that was the president's weekly address. that was the very end of that address. and you know, everyone talks about these deadlines. but congress does have a way of pushing those back. so let's talk about that quickly. december 31 at midnight is technically the fiscal cliff deadline. after that is when taxes would go up for most americans. but because january 1 is a federal holiday, that buys congress one day and also january 2 they could use, as well, buying time all the way till january 3 when the new congress comes in. there's deadlines and then there's deadlines. >> although you wind up seeing the market reaction after new year's day. waiti
CNN
Dec 29, 2012 5:00am PST
president obama i would be up on the hill. that's what president reagan would do. go up and meet the swing states, go to their afrsoffices, ask fo their vets. susan collins, mark warner on the democratic side. those are the folks that will provide the centrist core that we need to have a governing coalition in this country so we can move forward. >> let's talk about how consumers will be affect the here. the federal reserve is currently keeping rates at historic lows trying to encourage boroughing's if we go over the cliff, right now banks are hardly lending as much it's a they really should be. what epps can lse can be done t banks to loan, especially if we do go over the cliff? >> you make deposits, make loans. into a certain economy, at low rates, that's a challenges thing. it does make you risk. i think you know -- i actually think letting rates bump up a little bit. let the market determine, and i think the market would put the rates up a little bit, it could actually help lending. it's counter intuitive, and i think more borrowers will come in if they thought rates would go up. i don
Search Results 0 to 2 of about 3